Non-Fungible Tokens, or NFTs, have been a hot topic in the digital art and collectibles space. But what are they and why are they so important? An NFT is a digital asset that proves ownership of a one-of-a-kind item, such as digital work of art or collectible. Unlike ordinary digital documents, which can easily be cloned and shared, each NFT is unique and cannot be replaced by another. This is made possible by blockchain technology, the same technology that cryptocurrencies like Bitcoin are based on.
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